By Cristal Cody
Tupelo, Miss., April 5 – Protective Life Global Funding sold $300 million of 2.262% three-year senior notes at a spread of Treasuries plus 83 basis points on Wednesday, a market source said.
The notes (A2/AA-) were talked to price in the Treasuries plus 85 bps area, plus or minus 2 bps.
Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners.
Protective Life Global Funding is a Charlotte, N.C.-based debt financing vehicle for Protective Life Insurance Co.
| Issuer: | Protective Life Global Funding
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | April 8, 2020
|
| Bookrunners: | Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Coupon: | 2.262%
|
| Spread: | Treasuries plus 83 bps
|
| Trade date: | April 5
|
| Ratings: | Moody’s: A2
|
| S&P: AA-
|
| Price guidance: | Treasuries plus 85 bps area, plus or minus 2 bps
|
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